Lukyanov was an early political ally of Mikhail Gorbachev, supporting his efforts in issues such as the fight against corruption and the start of reforms in the economy. However, beginning in 1987–1988, he increasingly sympathized with the party establishment, correctly foreseeing that Gorbachev's policies would lead to the Soviet collapse.[3][4]

Lukyanov was elected as a deputy to the first three State Dumas of the Russian Federation (1993, 1995 and 1999).[18] His last political position was as Chairman of the Duma Committee on Constitutional Law.[19] He did not participate in the elections of 2003 and instead became a board member of the company OEG Petroservis.[20]